Iran has launched a new threat against US companies based across the Middle East, warning it will attack them in retaliation for new strikes by the US in Iran aimed against its leadership.
President Donald Trump says the US will "leave" Iran in "two to three weeks" when it is certain the regime cannot build a nuclear weapon "for years" and whether there is a deal with Tehran or not.
The first deliveries of liquefied natural gas (LNG) from Oman to a German company have begun despite the war in Iran, said a spokesperson for the German state-owned gas supplier Sefe.
An Iranian drone attack struck fuel tanks at Kuwait International Airport on Wednesday, sparking a massive fire but causing no casualties, Kuwait's state news agency KUNA said. The fuel tanks, which belonged to the Kuwait Aviation Fuelling Company (Kafco) have sustained significant damages.
Japan has instructed a national oil reserve storage site to prepare for a possible crude release after the Iran crisis disrupted Middle East supplies. Japan imports about 95 per cent of its crude from the region, much via the Strait of Hormuz.
Oil prices surged nearly 30% to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
Recent geopolitical developments involving Iran have heightened market sensitivity to oil prices, inflation, and interest rate expectations, according to Lale Akoner, Global Market Analyst.
Aramco offered over 2 million barrels of Saudi crude, including 2 million Arab Heavy and 650,000 Arab Light, in rare tenders as US-Iran tensions disrupted Middle East exports, trade sources reported.
Iran on Monday named Mojtaba Khamenei to succeed his father Ali Khamenei as Supreme Leader, signaling that hardliners remain firmly in charge in Tehran a week into its conflict with the US and Israel, reported Reuters. Meanwhile, the US military confirmed a seventh soldier has died from wounds sustained during Iran's initial counter-attack a week ago,
A water desalination plant and a university building were targeted in a Iranian drone attack this morning, according to the Bahrain's Ministry of Interior. Material damage was inflicted on the university building and three people got injured in the attack.
